The Napster co-founder and Facebook investor goes ‘back to the drawing board’ with new app to fight loneliness

Sean Parker, the Napster Inc. co-founder and early investor in Facebook Inc. and Spotify AB, believes social media isn’t intimate enough. Which is why on Thursday, he relaunched his old video service—Airtime—with a new mission, to bring friends closer together online.

Airtime Media Inc., which made its debut in 2012 and was considered a flop within months was one-to-one video chatting built for the desktop Web. The reboot is an app, naturally, available for Android and iOS. It lets users text and video chat with friends in...